Veeva Systems (VEEV) Reports In-Line Q4 EPS; Guides Q1, FY16; Will Acquire KOL

Veeva Systems (NYSE: VEEV) reported Q4 EPS of $0.09, in-line with the analyst estimate of $0.09. Revenue for the quarter came in at $87 million versus the consensus estimate of $85.37 million.

Veeva Systems sees Q1 2016 EPS of $0.10, versus the consensus of $0.09. Veeva Systems sees Q1 2016 revenue of $87-88 million, versus the consensus of $87.7 million.

Veeva Systems sees FY2016 EPS of $0.43-$0.45, versus the consensus of $0.41. Veeva Systems sees FY2016 revenue of $390-395 million, versus the consensus of $392.1 million.

Veeva announced its intent to acquire the key opinion leader (KOL) business and products known as Qforma CrowdLink, a leading global solution for KOL data and services for life sciences’ brand, medical, and market access teams.

As part of the all-cash transaction, Veeva Systems will acquire the outstanding equity interests of Mederi AG, a BelHealth Investment Partners portfolio company, as well as selected other KOL-related business assets of Qforma, Inc. and other affiliated entities.

Financial terms of the transaction are undisclosed, though Veeva Systems does not anticipate the acquisition will have a material impact on the financial results for its current fiscal year ending January 31, 2016. The acquisition is subject to various customary closing conditions and is expected to be complete in early 2015. Upon close, Veeva Systems plans to retain the employees currently supporting the Mederi and Qforma KOL business.

For earnings history and earnings-related data on Veeva Systems (VEEV) click here.

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